Harkham Family Acquires Mixed-Use Building In SoHo For $10.5M
206 Spring Street, New York City, New York 10012, United States
$10,500,000
$846/SF
Building Size
12,400 SF
Asset Type
Mixed-use
Closing
Mar 22, 2022
AI
A mixed-use property located at 206 Spring Street in the SoHo market has been sold for a total price of $10,500,000. The property spans 12,400 square feet, resulting in a price per square foot of $846. The transaction took place on 03/23/2022 between the Harkham Family as the buyer and Corigin as the seller. The deal was facilitated by brokers James Nelson, Brandon Polakoff, Eric Karmitz, and Bradley Rothschild from Avison Young.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $10,500,000
- Address: 206 Spring Street
- Market: SoHo
- Buyer: Harkham Family
- Seller: Corigin
- Brokers: James Nelson, Brandon Polakoff, Eric Karmitz, and Bradley Rothschild - Avison Young
- Square Footage: 12,400
- Price per Square Foot: $846
The sale of this mixed-use property showcases the involvement of key individuals and companies in the transaction. Buyers, the Harkham Family, made the purchase from sellers, Corigin, with the assistance of brokers James Nelson, Brandon Polakoff, Eric Karmitz, and Bradley Rothschild from Avison Young.
Players
New York Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.51%
Cash-on-Cash
-0.43%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93